Bangladesh – Leather sector sluggish at best
The leather sector in Bangladesh is facing sluggish sales, both domestically and internationally, due to the global economic crises and inflationary pressure.
Manufacturers are struggling to generate profits and even recover operational costs. Leather footwear exports declined by 34.75%, while finished and semi-finished leather exports saw a marginal increase of 0.56%. Sales of leather footwear have decreased by approximately 20%, attributed to a reduction in people's disposable income.
Recovery in the European market is crucial for the sector's revival, projected to take at least six months. Talking to local media, Dilip Kajuri, CFO of Apex Footwear Limited, emphasised the importance of developing strategies to retain workers during crises and sustain factory operations.
